Investing.com – The U.S. dollar was broadly lower against its major counterparts on Thursday, as investors waited to see if European Central Bank President Jean-Claude Trichet would prepare markets for more rate hikes at a press conference later in the day.
During European afternoon trade, the greenback was slightly lower against the euro, with EUR/USD edging up 0.04% to hit 1.4830.
Earlier Thursday, the ECB left its minimum bid rate unchanged at 1.25%, in line with expectations, after a 0.25% increase last month.
The greenback was also lower against the pound, with GBP/USD inching up 0.07% to hit 1.6499.
Earlier in the day, the Bank of England kept its official cash rate at 0.5%, in a widely expected move amid concerns over the strength of the U.K.’s economic recovery.
In addition, the greenback was down against the yen and the Swiss franc with USD/JPY tumbling 1.10% to hit 79.72 and USD/CHF shedding 0.41% to hit 0.8581.
Elsewhere, the greenback was higher against its Canadian, Australian and New Zealand counterparts with USD/CAD surging 0.70% to hit 0.9660, AUD/USD tumbling 0.76% to hit 1.0664 and NZD/USD shedding 0.48% to hit 0.7858.
Earlier Thursday, official data showed that Australian retail sales unexpectedly dropped in March, fueling speculation the central bank will delay raising interest rates.
A separate report showed that New Zealand’s rate of unemployment fell unexpectedly in the first quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.15%.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.
During European afternoon trade, the greenback was slightly lower against the euro, with EUR/USD edging up 0.04% to hit 1.4830.
Earlier Thursday, the ECB left its minimum bid rate unchanged at 1.25%, in line with expectations, after a 0.25% increase last month.
The greenback was also lower against the pound, with GBP/USD inching up 0.07% to hit 1.6499.
Earlier in the day, the Bank of England kept its official cash rate at 0.5%, in a widely expected move amid concerns over the strength of the U.K.’s economic recovery.
In addition, the greenback was down against the yen and the Swiss franc with USD/JPY tumbling 1.10% to hit 79.72 and USD/CHF shedding 0.41% to hit 0.8581.
Elsewhere, the greenback was higher against its Canadian, Australian and New Zealand counterparts with USD/CAD surging 0.70% to hit 0.9660, AUD/USD tumbling 0.76% to hit 1.0664 and NZD/USD shedding 0.48% to hit 0.7858.
Earlier Thursday, official data showed that Australian retail sales unexpectedly dropped in March, fueling speculation the central bank will delay raising interest rates.
A separate report showed that New Zealand’s rate of unemployment fell unexpectedly in the first quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.15%.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.